Regulatory Alerts2001-06-01 | Advisory Withdrawal - Issue 23AAdded
Transactions Involving Panama (Advisory Withdrawal - Issue 23A)
FinCEN Advisory 23 regarding the Republic of Panama is withdrawn because Panama has enacted significant counter-money laundering reforms and been removed from the Financial Action Task Force list of non-cooperative jurisdictions. Consequently, the enhanced scrutiny for transactions involving Panama previously required by Advisory 23 is no longer necessary. Financial institutions operating in the United States must continue to report suspicious activity and comply with all other applicable laws, including references to Advisories 9 and 12 for transactions involving the Colon Free Zone.
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